SEC updates Regulation Crowdfunding CFIs

The SEC issues Corporation Finance Interpretations ("CFIs"), which comprise interpretations of Regulation Crowdfunding (Reg CF) by staff of the Division of Corporation Finance, which Funding Portals may find useful and informative.

The SEC’s website states that these CFIs are not rules, regulations, or statements of the Commission. Further, the Commission has neither approved nor disapproved these interpretations. The CFI positions do not necessarily contain a discussion of all material considerations necessary to reach the conclusions stated, and they are not binding due to their highly informal nature. Accordingly, these responses are intended as general guidance and should not be relied on as definitive. There can be no assurance that the information presented in these interpretations is current, as the positions expressed may change without notice.

To review these updated CFIs, visit the SEC here: https://www.sec.gov/rules-regulations/staff-guidance/corporation-finance-interpretations/regulation-crowdfunding#204.01